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UK lender NatWest faces allegations from Philip Adkins, the former CEO of shipping company Red Box Energy Services, who claims Coutts, its private bank, closed his account based on incorrect financial information. Adkins's lawyers assert that Coutts misrepresented his wealth at £62m and falsely said he had dealings with Goldman Sachs. He has launched a data-protection claim, saying the inaccuracies had prompted a US Department of Justice investigation into his finances. Adkins claims that "false" Coutts records caused him "serious distress."

 

Financial Times

The Daily Telegraph

EU officials are investigating crypto exchange Binance's use of a legal exemption to serve European customers, despite failing to secure a licence to be regulated under the bloc's crypto rules.

 

Financial Times

Ex-HSBC banker Joseph Molloy has been banned by the UK's Financial Conduct Authority after being convicted of fraud for a scam that enabled him to evade £5,900 in train fares.

 

Financial Times

Airbus workers in Spain have voted to support a ​proposal to end months of episodic strike ‌action. The result of the vote on a deal which included recovering lost purchasing power, inflation-linked ​wage increases, flexibility in holidays and a ​return to 40% remote working enabled Airbus to "maintain a solid ‌and ⁠competitive position in Spain," the company said.

 

Reuters

An EU plan to change which member state pays unemployment benefits has been approved at the Council of the European Union, where member states' governments are represented. Unemployment insurance is currently paid to jobseekers in the country of residence. In July, the European Parliament approved a revision that makes the country where the jobseeker had been working responsible for the payments. Most EU countries will have a two-year transition period; Luxembourg, with its high proportion of cross-border workers, will have five to seven years to switch to the new system. Denmark, the Netherlands and Poland joined Luxembourg in opposing the revisions. 

 

Luxembourg Times

Three-quarters of European Union employees have encountered suspicious emails, messages or links at work, according to a Eurobarometer survey published by the European Commission. Phishing - fraudulent messages or websites which are designed to steal data or gain unauthorised access - was the most commonly reported workplace cyber threat, cited by 39% of employees in the survey. Six in ten (60%) respondents said they had received cybersecurity training in the previous year.

 

The Baltic Times

Brussels Times

EUbusiness

EUnews

UK banks increased coal financing 17% to $2.28bn between 2022 and 2025, with Barclays and HSBC leading the way. In contrast, EU lenders nearly halved such financing in the same period.

 

Financial Times

Dutch consultancy and engineering firm Arcadis is cutting approximately 1,000 jobs as it announced a "reset" strategy to simplify its organisation and focus on high-demand markets, leveraging AI and digital innovation. CEO Heather Polinsky said: "We are building a more focused, higher-performing Arcadis that delivers sustainable value for shareholders, our people and our clients." The company plans to divest most of its architecture and China operations, with job cuts expected as part of "overhead right-sizing targeted in 2027."

 

NL Times

Germany is revising regulations to attract data centre investments from AI firms - but local communities are making known their concerns. In Dietzenbach, where companies including Google plan to establish data centres, residents worry about rising electricity and water usage. Wilhelm Sauer, a local resident, questioned the benefits and environmental impacts of the developments. Mayor Dieter Lang anticipates job creation and tax revenue, but Tara Merk, a researcher on Community Data Centers at the Weizenbaum Institute, cautioned that profits may be taxed elsewhere.

 

Deutsche Welle (EN)

BMW is cutting over 100 managerial positions amid declining sales and profitability. The German carmaker set to shed about 20% of its 65 senior vice-presidents.

 

Financial Times

UK Prime Minister Andy Burnham has said his Labour government could offer a second Brexit referendum or pledge to rejoin the EU at the next general election. Burnham said he was not advocating an immediate referendum but would consider one if public opinion moved towards rejoining, while declining to rule out making EU membership a manifesto commitment. He has abandoned Labour’s previous opposition to rejoining the single market or customs union and restoring freedom of movement. Burnham said closer EU ties were preferable amid global challenges and plans to outline options around a UK-EU summit expected in November.

 

The Times

The Dutch government has abandoned plans for a wealth tax on unrealised gains. Officials proposed taxing increases in asset values, including shares and cryptocurrencies, before sale. Critics warned this could force investors to sell assets to cover tax bills on profits not yet realised. Instead, a conventional capital gains tax will be introduced, effective from 2028, taxing only realised gains at a rate of 36%.

 

Daily Mail

Protests by high school students in France have escalated, prompting Prime Minister Sébastien Lecornu to convene a crisis meeting. Demonstrations began in the Paris region, focusing on issues including underfunded schools and long hours, but have now spread across the country. Raphael, 17, was among the protesters outside a school in Strasbourg. "There are 35 of us per classroom. With 35C in summer, it's unbearable. There aren't enough toilets, and there are water leaks in some rooms," he said. "The building is falling apart, the cafeteria is too small. There's zero budget, zero resources, not enough supervisors."

 

France 24

The Daily Telegraph

The Guardian